Marsh & McLennan Companies, Inc. (NYSE: MMC), a global professional services firm providing advice and solutions in risk, strategy and human capital, and the Stanford Center on Longevity, a research center at Stanford University, today announced that the two organizations will collaborate to raise awareness and preparedness around lifetime financial security. As part of its previously announced commitment to fund retirement policy exploration, Marsh & McLennan Companies will contribute $1.5 million through 2013 to support the Stanford Center on Longevity’s studies and activities related to financial security. “Marsh & McLennan Companies is eager to advance awareness and education around issues related to retirement and aging populations. Two aspects of those issues—increased longevity and financial security—are top of mind for governments, businesses and individuals,” said Brian Duperreault, President and CEO of Marsh & McLennan Companies. “Through our Company’s support of the Stanford Center on Longevity, we will take part in forward-looking dialogue on these issues and work to be a catalyst for new ideas and perspectives that benefit the greater good of the aging population and of future generations,” Mr. Duperreault concluded. “It is a privilege for the Stanford Center on Longevity to receive this support for our programs from Marsh & McLennan Companies,” said Laura Carstensen, Founding Director of the Stanford Center on Longevity. “Our Center aims to connect with the best thinkers, business leaders and policy makers, and we look forward to the insights Marsh & McLennan Companies will provide based on its deep expertise in risk, strategy and human capital.” Michele Burns, who previously served as Chairman and CEO of Mercer, a subsidiary of Marsh & McLennan Companies, and was named to lead Marsh & McLennan Companies’ retirement policy center exploration last year, will serve as Center Fellow and Strategic Advisor to the Stanford Center on Longevity. She will join Founding Director Laura Carstensen, PhD and Deputy Director Thomas Rando, MD, PhD in providing strategic guidance for the overall efforts of the Center and development of the Financial Security Division of the Center.
“In exploring how Marsh & McLennan Companies could have the greatest impact in the retirement policy arena, the Stanford Center on Longevity emerged as an excellent partner,” said Michele Burns. “The Center brings a unique perspective to issues facing our society by rethinking the perceived problems around an aging population—challenges such as retirement planning and the need to work longer—and finding value in the opportunities these challenges present.“The Center’s Financial Security Division, in collaboration with Marsh & McLennan Companies, will examine these issues from multiple perspectives, ranging from individual financial capability, the changing nature and role of work, common financial pitfalls such as fraud, and the resulting key policy issues. The goal is to help drive the dialogue forward in order to facilitate a healthier state of long-term financial security—both for the individual and society. I am very proud to work with the Stanford Center on Longevity on these issues and to contribute to solutions that can make a difference for us all,” Ms. Burns concluded. The two organizations recently collaborated on a conference that brought together contributors from business, academia and government to address retirement planning in the age of longevity. The insights discussed at the conference are being used to inform the Stanford Center on Longevity’s financial security agenda as well as recommendations for future policy and research. The Center’s Financial Security Division will also launch an expanded web presence this fall that will highlight the Division’s work and will also serve as an information resource for key stakeholders.
- To learn more about the Center’s Financial Security Division, visit http://longevity.stanford.edu/blog/2012/06/a-collaboration-on-financial-security/.
Nearly 140 Stanford faculty members are Center affiliates. Their research ranges from developing healthy nutritional habits and building assistive robots, to pursuing stem cell research and improving health care delivery. The Center’s research projects are designed to provide information to policymakers and business leaders, and bring them together with the research community. By fostering dialogue among these typically disconnected worlds, the Center aims to develop workable solutions to urgent issues confronting America as our population ages.